Joint ventures is the most favored and easiest way of increasing sales and cash flows. Nowadays, almost everybody knows that finding a good joint venture is the answer to getting online success.
But why is it that some people are not using this strategy for their online business? Why were they not able to make their joint ventures work?
The reasons is may be because…
1. Not offering your joint ventures. Are you just sitting there and waiting for a potential partner to just come up to you and tell you that they want to get into joint ventures with you?
Unless you give them something they will not be able to resist, most partners are not looking forward to your offer.
You obviously have to put in some time to think up a good offer. But then, all this will be worth the effort once you have your joint ventures up and rolling. As with every business, it take commitment and dedication to be able to get where you want to go. Nothing will be achieved in not trying.
2. Not following up. You are probably discouraged already because you have not heard from all that you have sent proposals to. Did it ever occur to you to follow up on those?
Joint ventures is sometimes considered spam because of the way they are being sent. So chances are, the ones who have received yours may have had that same thought and thrashed your proposals with all the rest.
Following up is the solution. The possibility that your potential customers will notice you is very much high when you follow up regularly. Based on the experience of joint ventures marketer, it takes a second or third email to get a response.
A combination of a follow-up email and a telephone call has also been known to get higher response rates. This is an option worth considering.
3. Not personalizing your joint venture offer. If your proposal does not speak directly to your readers, it probably will not succeed. That is one of the reasons why you should allot some time when creating a joint venture proposal.
It would be best to get to know more about the person and the business he or she is running. Go over to their site and check out what they are all about. This way, you can offer them a proposal that is crafted especially for them.
Mention some of the things you have seen on their site so they will know that you are really putting on time and effort in getting to know them.
4. A joint venture partner is worlds apart from joint ventures affiliate. The commissions you are offering your affiliates should not be the same as the commission will offer your partner. When you offer higher commissions to them, it will increase your chances of them accepting your proposal.
The standard commissions offered to joint venture partners should be more than 50 percent.
5. Targeting your kind. Do not be overconfident and try to large and stable businesses. The probability of them accepting you is very slim. Try out several businesses similar as yours or smaller than you are. By partnering with them, you can build a good track record about you and your success. Once you have done this, you can then go on and approach bigger companies.
Take into account that large businesses are also facing large problems. If they are that successful, they might already have the same products and services that you are offering. And their customers are already happy with what they have.
But if you feel that you have something unique and worthwhile to offer them, why not try? You have got nothing to lose by trying. At least you tried rather than just think of what could have been.
Now that you have a basic knowledge of what and what not to do with your joint venture proposal, you may want to rethink your strategy. It is best to try out different strategies and see which ones will work best for you.
Keep in mind that this is your joint venture and its future that you are giving out. Be sure to always think hard before making a final decision.